The Collective Plan is designed to provide you with a secure income for life when you retire but it’s probably only one part of your financial future. Here’s some simple checks you could make to help with your planning:
1. Check your State Pension
The State Pension will be a crucial part of your overall retirement income, but how much you’ll get depends on how many years you’ve been paying National Insurance when you reach your State Pension Age. You can check your State Pension Age and get a State Pension forecast at www.gov.uk/check-state-pension.
2. Check how much you might get from the Collective Plan
You can get a projection of what you might get from the Collective Plan at age 67 by logging into the Member Self-Service Portal at www.securermcollectiveplan.com.
If you need help getting online
Whether that’s registering for an account or getting a reminder of your details, we’ve got a step-by-step guide here: www.rmcollectiveplan.com/member-self-service.
If you’ve already registered, it won’t accept your PIC when you enter it - try clicking on “Forgotten Username?” from the Login page and typing in your email to get a reminder of your username. Once logged in:
• click on ‘Benefits Quotation’
• under the ‘Select a calculation type’ dropdown menu, select ‘What you might get at retirement’
• hit ‘Generate Quote’ and your quote will download as a PDF. Select ‘open’ to view it.
3. Check other Royal Mail pensions you might have
You can find out more about other Royal Mail pension schemes, including some information to help you understand which ones you may be a member of, and where to go for more information about each one at www.rmcollectiveplan.com/other-pensions.
4. Check any other pensions you have
If you’ve worked somewhere else before or after Royal Mail, you may have other workplace pensions to think about. If you’ve lost contact with them, you might be able to track them down at www.gov.uk/find-pension-contact-details.